High (Steel) Wire Act

Updated Oct. 2, 2002 12:01 a.m. ET

When Ross Perot fretted about the "giant sucking sound" of U.S. manufacturing jobs fleeing the country, he wasn't warning against U.S. anti-dumping and countervailing-duty law. But he should have been. As suppliers of such raw materials as steel win more protection, U.S. factories are doing what makes the most sense -- moving production overseas where they can buy the stuff they need at more affordable prices.

A case in point is the dumping suit to be heard today before the International Trade Commission...